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Documents citing M/S Iba Health(I) P.Ltd vs M/S Info-Drive Systems Sdn.Bhd on 23 September, 2010

Essar Steel India Ltd. (Esil) vs Jaiprakash Power Ventures Ltd on 28 July, 2017

49. It clearly emerges from the law laid down by the Hon'ble Apex Court in the judgments referred to above that, where a company has bona fide dispute, petitioner can not be regarded as a creditor of the company for the purpose of winding up, as has been held in IBA Health (India) Private Limited (Supra), that "bona fide dispute" implies existence of substantial grounds for the dispute raised and where company court is satisfied that debt upon which petition is founded, is hotly contested debt and also doubtful, it should ::: Downloaded on - 01/08/2017 23:56:57 :::HCHP 60 not entertain such petition. This Court after having carefully perused claims/counter claims having been filed by respective .
Himachal Pradesh High Court Cites 23 - Cited by 0 - S Sharma - Full Document

The Hongkong & Shanghai Banking vs M/S.Agnite Education Limited on 25 July, 2012

20. The next contention of the learned Senior Counsel appearing for the respondent is that when there is a bonofide dispute, the company cannot be ordered to be wound up and for that proposition the learned Senior Counsel for the respondent relied upon the judgments reported in (2011) 1 MLJ 745 (SC) in the matter of IBA Health (I) P. Ltd. Vs. Info-Drive Systems Sdn. Bhd. and Vol.
Madras High Court Cites 14 - Cited by 1 - R S Ramanathan - Full Document

Sims Metal Management Limited vs Sabari Exim Private Limited on 31 March, 2015

63. It is no doubt true that the court will keep in mind the commercial solvency of a Company, larger public interest and repercussions of the order of admission. The commercial solvency, however, cannot be a stand alone ground. If that be so, then every Company which is commercially solvent will refuse to pay the admitted debts and then take up the ground of commercial solvency. The Apex Court in the case IBA Health (I) (P) Limited Vs. Info Drive Systems Sdn.Bhd, MANU/SC/0772/2010: 2010-10-SCC-553, has clearly laid down in the passage reproduced below that the commercial solvency cannot be considered as a stand alone ground:-
Madras High Court Cites 33 - Cited by 0 - R Mahadevan - Full Document

Sims Metal Management Limited vs Sabari Exim Private Limited on 31 March, 2015

63. It is no doubt true that the court will keep in mind the commercial solvency of a Company, larger public interest and repercussions of the order of admission. The commercial solvency, however, cannot be a stand alone ground. If that be so, then every Company which is commercially solvent will refuse to pay the admitted debts and then take up the ground of commercial solvency. The Apex Court in the case IBA Health (I) (P) Limited Vs. Info Drive Systems Sdn.Bhd, MANU/SC/0772/2010: 2010-10-SCC-553, has clearly laid down in the passage reproduced below that the commercial solvency cannot be considered as a stand alone ground:-
Madras High Court Cites 33 - Cited by 1 - R Mahadevan - Full Document

Mk Mahajan & Anr. vs Indo Rollhard Indust. Ltd. on 17 January, 2014

IBA Health (India) (P) Ltd. v. Info-Drive Systems Sdn. Bhd., [(2010) 10 SCC 553] was a case of a bona fide dispute raised by the respondent-company. The Supreme Court therefore held that advertisement of the petition for winding up will tarnish the image of the company and its reputation and on these grounds reversed the judgment of the High Court admitting the winding up petition. It is not a case of the same Court taking a second call as to whether the company petition was rightly admitted or not, on the same facts and averments. This judgment of the Supreme Court cautions the company courts against not considering the substantive nature of the defence put up by the respondent- CO. PET. 136/2005 Page 21 of 39 company in answer to the winding up petition.
Delhi High Court Cites 13 - Cited by 0 - R V Easwar - Full Document
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